Alexandria Real Estate Equities (NYSE:ARE) Receives “Sector Perform” Rating from Royal Bank of Canada

Alexandria Real Estate Equities (NYSE:ARE)‘s stock had its “sector perform” rating reaffirmed by stock analysts at Royal Bank of Canada in a note issued to investors on Thursday, Benzinga reports. They presently have a $125.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $130.00. Royal Bank of Canada’s price target would suggest a potential upside of 7.43% from the company’s previous close.

Several other research firms have also recently weighed in on ARE. Citigroup cut Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $130.00 to $125.00 in a research report on Friday, September 13th. Bank of America lowered Alexandria Real Estate Equities from a “buy” rating to a “neutral” rating and decreased their price target for the company from $151.00 to $126.00 in a research note on Monday, July 29th. Jefferies Financial Group lowered shares of Alexandria Real Estate Equities from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $136.00 to $127.00 in a report on Friday, August 2nd. Wedbush cut their price target on Alexandria Real Estate Equities from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Evercore ISI reduced their price objective on Alexandria Real Estate Equities from $129.00 to $124.00 and set an “in-line” rating on the stock in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $131.22.

Alexandria Real Estate Equities Stock Down 3.0 %

NYSE:ARE traded down $3.55 during trading hours on Thursday, hitting $116.35. 1,498,875 shares of the stock traded hands, compared to its average volume of 979,830. The firm has a market cap of $20.35 billion, a price-to-earnings ratio of 108.74, a PEG ratio of 3.99 and a beta of 1.16. The firm has a 50 day moving average price of $119.18 and a 200 day moving average price of $118.79. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.55. Alexandria Real Estate Equities has a fifty-two week low of $90.73 and a fifty-two week high of $135.45.

Alexandria Real Estate Equities (NYSE:ARE) last posted its quarterly earnings results on Monday, October 21st. The real estate investment trust reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.38 by ($1.42). Alexandria Real Estate Equities had a return on equity of 0.68% and a net margin of 5.09%. The company had revenue of $791.60 million during the quarter, compared to analyst estimates of $766.97 million. During the same period last year, the company posted $2.26 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. Equities research analysts anticipate that Alexandria Real Estate Equities will post 9.47 earnings per share for the current year.

Hedge Funds Weigh In On Alexandria Real Estate Equities

Institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC boosted its position in Alexandria Real Estate Equities by 22.1% in the first quarter. Park Avenue Securities LLC now owns 3,550 shares of the real estate investment trust’s stock worth $458,000 after purchasing an additional 642 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in Alexandria Real Estate Equities by 17.6% in the first quarter. Harbour Capital Advisors LLC now owns 4,179 shares of the real estate investment trust’s stock valued at $518,000 after purchasing an additional 625 shares in the last quarter. Financial Management Professionals Inc. raised its position in shares of Alexandria Real Estate Equities by 66.1% during the 1st quarter. Financial Management Professionals Inc. now owns 2,319 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 923 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Alexandria Real Estate Equities by 48.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 21,306 shares of the real estate investment trust’s stock worth $2,747,000 after purchasing an additional 6,959 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in Alexandria Real Estate Equities by 0.7% in the first quarter. State of Michigan Retirement System now owns 43,118 shares of the real estate investment trust’s stock worth $5,558,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 96.54% of the company’s stock.

Alexandria Real Estate Equities Company Profile

Alexandria Real Estate Equities, Inc (NYSE: ARE), an S&P 500 company, is a best-in-class, mission-driven life science REIT making a positive and lasting impact on the world. As the pioneer of the life science real estate niche since our founding in 1994, Alexandria is the preeminent and longest-tenured owner, operator, and developer of collaborative life science, agtech, and advanced technology mega campuses in AAA innovation cluster locations, including Greater Boston, the San Francisco Bay Area, New York City, San Diego, Seattle, Maryland, and Research Triangle.